Racing Groups Saddle Magna With $2.6M In Claims

Law360, New York (February 10, 2010, 5:56 PM EST) -- Horse racing groups have filed a complaint against bankrupt gaming company Magna Entertainment Corp. over its retention of $2.6 million in distributions from wagers — distributions the groups claim belong to them under California law.

Thirty-seven groups, including the Bay Meadows Racing Association and the California Thoroughbred Business League, filed a lawsuit Tuesday in the U.S. Bankruptcy Court for the District of Delaware, arguing that they are entitled to a portion of the wagers placed at Magna's betting operations.

Magna operates racing facilities at Santa Anita...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.